How difficult is it to rent an apartment after bankrutcy. One place I was very interested in requires that you have been discharged from bankruptcy for a minimum of three years.
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I think it will be tough
unless you just call around and ask specifically. On our end, we have 3 kids so an apt. is not an option. Townhomes and homes for rent are VERY flexible, after bankruptcy and foreclosure. They usually say as long as you make 3x in income what the rent is, they don't really care. After all, most people who rent houses are because of bad credit.
Keep looking, you will find someone who will bite!! -
We were in Foreclosure, 5 months late on all our CC's prepping to file BK when we rented where we're living now.
You just have to scope out prospective places to rent. Feel 'em out. Try and find smaller Landlords. Not the big "corporate" Leasing Companies. Ask their Credit Check policies.
Most "Individual" Landlords could care less about if you filed BK in the past. They just don't wanna rent to you during an Open and Active BK. Landlords know during that 90-120 day or so timeframe, you can add Creditors and discharge the debt.
What worked for us was going with a smaller "corporate" type company. They own a construction company and have assorted rental properties around town. Our Credit was never checked as part of the application process.
The wife of one of our owners actually showed us this condo. I was up front, sort of, with our Landlord. I told her about the Foreclosure, but not the "prepping to file BK" part. She's a Realtor and understood loosing a job, having to move for a job, and the house not selling.Filed Ch 7 - 09/06
Discharged - 12/2006
Officially Declared No Asset - 03/2007
Closed - 04/2007
I am not an attorney. My comments are based on personal experience and research. Always consult an attorney in your area to address concerns related to your particular situation.
Another good thing about being poor is that when you are seventy your children will not have declared you legally insane in order to gain control of your estate. - Woody Allen...Comment
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I got my sister to cosign for my lease, due to the credit issue and since I started a new job after the lease started. There was not a hitch at all, even with an active bankruptcy case at the time of lease signing.DISCLAIMER: I am not an attorney. My posts are not legal advice. They are for information only. Please feel free to use them in an academic sense, as I simply wish to share with you what I have learned/researched.Comment
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I agree, smaller landlords are key. We looked at a lot of houses. Found a house we liked, and the landlord liked us. He checked references but not credit.Comment
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